Consulta: creatorFacets:"Tack,   Jesse B."
Registros recuperados: 6
Data/hora: 10/06/2024 01:32:25

More than Mean Effects: Modeling the Effect of Climate on the Higher Order Moments of Crop Yields
Provedor de dados: 31
Autores: Tack,   Jesse B.; Harri,   Ardian; Coble,   Keith H.
The objective of this article is to propose the use of moment functions and maximum entropy techniques as a flexible way to estimate conditional crop yield distributions. We present a moment based model that extends previous approaches in several dimensions, and can be easily estimated using standard econometric estimators. Upon identification of the yield moments under a variety of climate and irrigation regimes, we utilize maximum entropy techniques to analyze the distributional impacts from switching regimes. We consider the case of Arkansas, Mississippi, and Texas upland cotton to demonstrate how climate and irrigation affect the shape of the yield distribution, and compare our findings to other moment based approaches. We empirically illustrate...
Tipo: Presentation
Palavras-chave: Risk; Climate change; Moments; Entropy; Yield; Cotton; Crop Production/Industries; Production Economics; Research Methods/ Statistical Methods; Risk and Uncertainty.
Ano: 2012
URL: http://purl.umn.edu/123330

A Mixed Effects Model of Crop Yields for Purposes of Premium Determination
Provedor de dados: 31
Autores: Roberts,   Michael J.; Tack,   Jesse B.
Farm income is highly variable due to annual price and yield uncertainties. The federally subsidized crop insurance program is an important tool for managing this risk, and has grown from a relatively modest program to one that encompasses the majority of productive cropland in the country. The success of this program depends on identification of actuarially fair insurance premium rates, which in turn depends on accurate estimation of farm-level yield distributions. We use the confidential U.S. Department of Agriculture Risk Management Agency (RMA) panel dataset to estimate farm-specific distributions of yields and actually fair crop insurance premiums. Our ongoing work includes using the difference between our estimated actually fair premiums and RMA's to...
Tipo: Conference Paper or Presentation
Palavras-chave: Yield; Crop Insurance; Policy; Mixed Model; Agricultural and Food Policy.
Ano: 2011
URL: http://purl.umn.edu/103405

Agricultural Arbitrage, Adjustment Costs, and the Intensive Margin
Provedor de dados: 31
Autores: Tack,   Jesse B.; LaFrance,   Jeffrey T.
Farmland and capital are an important and rapidly expanding component of the agricultural economy, and empirical evidence suggests that these assets are quasi-fixed in that adjustment costs are incurred when holdings are altered. Increased interest in the rate of return for investing in farmland suggests that an important consideration is the effect of adjustment costs on this return. A novel theoretical model is developed that ties together contributions from the farmland pricing and adjustment cost literatures, and the first order conditions for a utility maximizing decision maker are rearranged into intertemporal arbitrage equations that are similar in spirit to traditional finance models. The common assumptions that land and capital are quasi-fixed...
Tipo: Conference Paper or Presentation
Palavras-chave: Arbitrage; Adjustment Costs; Farmland; Asset Pricing; Capital; Cost Function; Risk; Production; Agricultural Finance; Consumer/Household Economics; Crop Production/Industries; Farm Management; Financial Economics; Land Economics/Use; Production Economics; Risk and Uncertainty.
Ano: 2010
URL: http://purl.umn.edu/56412

The Effect of the El Nino Southern Oscillation on U.S. Corn Production and Downside Risk
Provedor de dados: 31
Autores: Tack,   Jesse B.; Ubilava,   David.
El Nino Southern Oscillation (ENSO) teleconnections imply anomalous weather conditions around the globe, causing yield shortages, price changes, and even civil unrests. Extreme ENSO events may cause catastrophic damages to crop yields, thus amplifying downside risk for producers. This study presents a framework for quantifying the effects of climate on crop yield distributions. An empirical application provides estimates of the effect that ENSO events have on the means of U.S. county-level corn yield distributions, as well as the probabilities of catastrophic crop loss. Our findings demonstrate that ENSO events strongly influence these probabilities systematically over large production regions, which has important implications for research and policy...
Tipo: Presentation
Palavras-chave: Climate; El Nino Southern Oscillation; Maximum Entropy; Risk Management; Yield Distribution; Crop Production/Industries; Environmental Economics and Policy; Production Economics.
Ano: 2012
URL: http://purl.umn.edu/119785

Information and Firms’ Search Behavior
Provedor de dados: 31
Autores: Aker,   Jenny; Tack,   Jesse B.
Information and communications technologies (ICTs) have spread rapidly over the past decade.  There has been considerable interest in the effect of such technology on search costs, search behavior and welfare outcomes, particularly in developing countries.  This paper investigates the impact of a new search technology, mobile phones, on traders’ search and marketing behavior in Niger.  We construct a novel theoretical model of sequential search, in which traders engage in optimal search for the maximum sales price, net transport costs. The model predicts that the introduction of a new search technology, such as mobile telephones, will increase traders’ reservation sales prices and the number of markets over which they search. To test the predictions of the...
Tipo: Conference Paper or Presentation
Palavras-chave: Africa; Information; Information Technology; Search Costs; Niger; Agricultural and Food Policy; Food Security and Poverty; International Development; Marketing; O1; O3; Q13.
Ano: 2011
URL: http://purl.umn.edu/103404

Estimating the Value of Antitrust Investigations: A Case Study in Agriculture
Provedor de dados: 31
Autores: Coatney,   Kalyn T.; Tack,   Jesse B.
The goal of our analysis is to enhance the understanding of the value of antitrust regulatory activities, specifically the impact of investigations of anticompetitive behavior. The results suggest that prices significantly increased as soon as the targets of the investigation were made aware they were being investigated.  Higher prices are suggestive of a more competitive market outcome, which in turn suggests that the benefits of an investigation begin accruing immediately upon awareness by the offending party. The higher prices remained as long as the investigation was open.  After the investigation was closed, market prices systematically declined to the same low pre-knowledge state.
Tipo: Conference Paper or Presentation
Palavras-chave: Antitrust; Auctions; Agricultural and Food Policy; Demand and Price Analysis; K42; D44; C23.
Ano: 2011
URL: http://purl.umn.edu/103548